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EU: IBM gains approval for US$34B Red Hat deal

 |  June 27, 2019

US tech giant International Business Machines on Thursday, June 27, won unconditional EU antitrust approval for its US$34 billion acquisition of software company Red Hat.

IBM is looking to the deal, its biggest to date, to expand its subscription-based software offerings to counter falling software sales and declining demand for mainframe servers.

The European Commission said in a statement that it had concluded the transaction would raise no competition concerns. Reuters reported on June 19 that the deal would get the go-ahead.

Full Content: Reuters

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